The accident was not my fault, the other person's insurance paid my medical bills (we weren't hurt), but my car was totaled. They paid part of my car loan but there was $3800 left owing on the loan. I am screwed or can I sue the driver of the car for the difference in what was paid and what was owed.
We didn't have gap insurance! We are struggling just to pay our necessary bills and don't have this money lying around. I don't think we should be responsible. Anyone know of anything I could do?
2007-08-30 13:28:37 · 4 answers · asked by iteach_3rd 2 in Politics & Government ➔ Law & Ethics
Basically, you should never have a car that is worth less than what you owe, which is what you had. Presumably, you were paid the fair value of the car, so the loan payoff is your problem.
2007-08-30 13:41:17 · answer #1 · answered by heart_and_troll 5 · 0⤊ 0⤋
When you your car was totaled, did the insurance company give you the "Blue Book Value" of your car? If so, it is not their fault that you owed more than the car was worth. Depending on where and when this all happened, you might have a shot; but I doubt it. You owe under $4,000 on the car; you can make some changes in your lifestyle that will help you reduce your debt.
2007-08-30 13:56:45 · answer #2 · answered by Kevin k 7 · 0⤊ 0⤋
I'm sorry to say that by accepting a settlement check from the insurance company you have probably given up your right to seek further damages.
Basically, the insurance company acted on behalf of the other driver to settle your claim.
2007-08-30 13:34:27 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No if you are upside in loan not the insurance company fault
That is the response you will get.
You can sue anybody in small claims give it a try
2007-08-30 13:35:50 · answer #4 · answered by Anonymous · 0⤊ 0⤋